NZD/JPY Up 53 Pips; in a Downtrend Over Past 30 Days
As for the rationale, technical traders seem to be citing the appearance of a channel technical pattern.
NZDJPY
(Last Updated January 23, 2021)
Hello! This is the news page for NZDJPY. Below you’ll find our daily market updates. Here’s a technical and fundamental summary of where things currently stand:
Forex Calendar for NZDJPY
| metric_name | reference_period | asset_name | asset_id | date | time | forecast | outcome |
|---|---|---|---|---|---|---|---|
| Japan BoJ Monetary Policy Meeting Minutes | NA | Japanese Yen | JPY | 2021-01-25 | 23:50 GMT |
The Trend
If we observe the 90 and 30 day timeframes, we see an uptrend in place for NZDJPY.
NZDJPY Moving Averages
Across several time periods between 20 and 200 days, the trend on NZDJPY has remained consistently bullish.
Below is a chart showing NZDJPY’s price with its moving averages.
As for assets in the Forex asset class NZDJPY has been correlated to over the past week, it has been most correlated with AUDJPY. If we zoom out to a two week basis, though, the asset showing the strongest correlation to NZDJPY is NZDCHF. Alternatively, USDHKD has been the asset least correlated with NZDJPY — but over the past two weeks, the asset least correlated with NZDJPY has been GBPUSD. The chart below illustrates NZDJPY against its least correlated assets.
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The View From the Weekly Timeframe
Currently, NZDJPY’s rate is up 6427 pips (0.87%) from the week prior. It’s been a feast for bulls operating on the weekly timeframe, as NZDJPY has now gone up 8 of the past 10 weeks. Regarding the trend, note that the strongest trend exists on the 10 week timeframe. Looking further out, the moving averages on the weekly timeframe suggest a choppiness in price, as the are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders. NZDJPY’s weekly price action over the past 52 weeks can be seen via the chart below.
NZDJPY: The Monthly View
Strongest trend on the 60 month timeframe.
NZD/JPY Down 61 Pips, in a Downtrend Over Past 14 Days; Social Sentiment Biased Towards Buying
The price move occurred on stronger volume, as measured by the number of tick price changes; specifically, yesterday’s volume was up 3.92% from the day prior, and up 182.08% from the same day the week before.
NZD/JPY Up 28 Pips, in a Downtrend Over Past 14 Days; Sentiment Suggests Buyers in Charge
As for the rationale, technical traders seem to be citing the appearance of a relative strength index technical pattern.
NZD/JPY Heads Down For the 6th Day In A Row
Something else of critical noteworthiness is that nzd/jpy’s momentum/trend on a 14 and 30 day bases may be decelerating.
NZD/JPY Down 34 Pips
Out of the 40 instruments in the forex asset class, nzd/jpy ended up ranking 29th for the day in terms of day-over-day price change.
NZD/JPY Heads Down For the 5th Day In A Row
Relative to other instruments in the forex asset class, nzd/jpy ranked 26th yesterday in terms of percentage price change.
NZD/JPY Moves Down For the 4th Day In A Row
Out of the 40 instruments in the forex asset class, nzd/jpy ended up ranking 38th for the day in terms of day-over-day price change.
NZD/JPY Down 12 Pips, in a Downtrend Over Past 30 Days; Price Base in Formation Over Past 90 Days
Volatility for nzd/jpy has exploded over the past two weeks relative to the past 30 days, which technical traders will want to note.
NZD/JPY Down 55 Pips, Crosses 100 and 200 Day Moving Averages; in a Downtrend Over Past 30 Days
As for the alignment of the moving averages, well, it’s a bit mixed up; the 20, 50, 100, and 200 do not progress from largest to smallest, or vice versa.
NZD/JPY Up 11 Pips, in a Downtrend Over Past 30 Days; Price Base in Formation Over Past 14 Days
Volatility for nzd/jpy has exploded over the past two weeks relative to the past 30 days, which technical traders will want to note.